June 26, 2012 (PLANSPONSOR.com) - A white paper sets out a checklist of plan sponsor and fiduciary actions that need to be considered and implemented as part of the defined benefit plan termination process.
The paper, "The Fiduciary’s Role in the Termination of Single Employer Defined Benefit Plans: A Practical Guide,” released by CAMRADATA Analytical Services, further expands on the fiduciary’s risks and responsibilities in bringing the termination to a close.
Kevin O’ Brien and Rosina Barker, partners in Ivins, Phillips & Barker’s Washington D.C. office co-authored the paper. The authors conclude the paper by stating, “As soon as practical once the plan sponsor’s decision is underway, and certainly before taking significant steps to implement it, the fiduciary should begin constructing the well-considered fiduciary process needed to bring about a successful, efficient termination immune from legal challenge.”
The paper can be downloaded from http://www.camradata.com/prtfiduciarypaper.